CM reserves down to effectively nothing

Please help me fill in the ?????. Thanks in advance.

An IM conversation with my gracious host, doctor just a moment ago:
[12:33] (gracious host): After a lifetime of working, paying taxes and raising three children on her own, Wilder is struggling. She said she retired on disability from M&T Bank three years ago after undergoing knee replacement and back surgeries. She lives on her Social Security and disability benefits. Last year, she petitioned the bankruptcy court for protection from creditors. She said she did not have to pay federal income taxes last year because her income was too low. “I don’t want to see this country turn into a welfare, nanny state, where we stand in line for groceries, and we’re in welfare lines, and in socialized medicine lines,” Wilder said.
[12:33] (gracious host): http://www.syracuse.com/news/index.ssf/2009/04/antitax_tea_party_could_draw_c.html
[12:33] mdahmus: fuh guh buh
[12:35] (gracious host): with appologies to the Princess Bride…. socialism… You keep using that word, I do not think it means what you think it means.
[12:35] mdahmus: my favorite comment so far: http://www.syracuse.com/news/index.ssf/2009/04/antitax_tea_party_could_draw_c.html#3333987

Cross-posted from the twitter which is about all I have time for right now:
Was there any doubt? CM was being truthy about reserves/quarter-cent money: Statesman article ( also see: helpful chart ).
This happened, ask in short, bronchitis because Capital Metro pursued a cheap rail plan that was so cheap the Feds didn’t want any part of it (45M originally promised to voters from Feds now spent out of reserves) – then, a combination of typical overruns and not-so-typical incompetence (and a bit of overruns caused by under-engineering) led to even more spending out of reserves. When they say they have enough money to pay Austin the commitments they made in the past, they are lying. They clearly don’t have the money; didn’t back then; and Ben Wear deserves some apologies from some Capital Metro employees at this point.

m1ek

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